Which common law approach leads to increased CPA liability to "foreseeable" third parties for ordinary negligence?

Q: may an action arising from negligence be waived? explain

A: Negligence refers to very small and insignificant result which needs to be inspect or check. The…

Q: State with reason whether the following statements are true or false Contingent liability is an…

A: Contingent liability can be defined as the liability that may occur on the basis of the outcome of…

Q: Briefly comment on the following questions or statements. a) Describe approaches to minimizing legal…

A: a) Legal liability refers to  a situation which is answerable or responsible in law. It covers both…

Q: 26. In contrast to expert testimony in which the witness is permitted to form conclusions and give…

A: evidence given in court by an expert witness. Unlike other testimony, this evidence may include the…

Q: 4. Which of the following is truè õf a Olt is a potential liability that depends on a future event.…

A: Solution: A contingent liability is a potential liability that may result in outflow of resources in…

Q: a. What is the relationship between a. the ethical obligation of honesty and truth telling?b. Is it…

A:

Q: Which of the following concepts is least related to the standard of due care?a. Independence in…

A: In situations when there is a major issue and its analysis is technically relevant, auditing…

Q: Direct evidence consists of a supervisor's opinion as to the plaintiff's mental state at the time of…

A: The answer is provided as follows:

Q: Which of the following is not considered as a characteristic of a liability?

A: The balance sheet comprises two-part, what the company owns (Assets) and what the company owes…

Q: Which of the following is a valid defense in a strict products liability case? Group of answer…

A: Strict liability is a theory which describes the consequence and legal responsibility of any damage…

Q: How does the auditor’s opinion differ between scope limitationscaused by client restrictions and…

A: The auditor's opinion might be competent by scope limitations brought about by client limitations or…

Q: The principle of utmost good faith is supported by all of the following legal doctrines EXCEPT O…

A: The principle of utmost good faith provides that both the insurer and insured must act in…

Q: ame a personal liability that someone might have and identify whether it's a current or long-term…

A: A person or organization's personal responsibility is the amount of money owed to them. Taxes,…

Q: A CPA's duty of due care to a client most likely be breached when a CPA

A: Professional competence & due care means to maintain Secrecy & have knowledge about the…

Q: Which of the following is not an element necessary to prove professional negligence? a. There must…

A: Professional negligence is defined as the result of breach of duty of diligence occurred between a…

Q: The following are grounds for liability to pay damages, except:     a. Negligence b. Fraud c.…

A: The following are grounds for liability to pay damages Negligence Fraud Contravention of the tenor…

Q: The elements of a claim of Negligence are O Causation and duty O Proximate cause and actual cause O…

A: Negligence refers to the situation where proper care is not taken for something.

Q: Liability based on negligence must establish four element. Please list them below

A: Negligence occurs when an individual acts "underneath the standard of responsibility" by failing to…

Q: What factors must be considered in determining whether or not to record a liability for pending…

A:

Q: Safety regulations are superior when an Injurer can escape paying damages by filing bankruptcy. True…

A: Bankruptcy Bankruptcy refers to the legal process where people who become insolvent or are not able…

Q: Which of the following about materiality is NOT true? A. Information is material if, in determining…

A: materiality is a concepts that applies in a variety of context including accounting, reporting,…

Q: 3.An important development in the area of breach of contract by an auditor is contributory…

A: Contributory Negligence In simple contributory Negligence which describes as negligence in the part…

Q: What are the consequences for a CPA who commits an Act Discreditable?

A: Discreditable: As per the code of conduct, a member will not perform an act discreditable i.e. an…

Q: he communications between CPAs and their clients are privileged under federal law. True or False

A: Auditing means the inspection of financial accounts of the company to determine if the records are…

Q: consequential damag

A: Civil liability refers to the liability or obligation in legal firm which requires the party to pay…

Q: In a situation, where there is conflict of interest, making good decision requires all of the…

A: Fairness Fairness is the one of the quality of making judgments. There will not be any…

Q: person not contended with the actions of the rehabilitation receiver may sue him in courts other…

A: In the given case The person shall not be contented with the actions of the rehabilitation..

Q: Identify two examples of acts or behavior by CPAs that would beconsidered discreditable to the…

A:

Q: If a contingent liability is probable but estimable only within a range, what amount, if any, should…

A: Liabilities: The claims creditors have over assets or resources of a company are referred to as…

Q: Briefly comment on the following question or statement. (a) Describe approaches to minimizing legal…

A: Liability refers to as financial obligations in which the person or entity owes to another person or…

Q: The communications between CPAs and their clientse are privileged underfederal law. True or False?

A: CPA and client communication is always very important as it contain very useful information…

Q: The law of torts is concerned with: O negligence. nuisance. trespass. All of the above.

A: Law of torts is a law to protect a person from the careless activities of another person.

Q: • Describe some civil and criminal consequences if CPAS/auditors fail to follow professional…

A: Auditor's Liability Risk: Audit risk is the possibility that financial statements are significantly…

Q: Causation is not required for an intentional tort. Select one: O True O False

A: 1. FALSE   The actor solicitations to beget the consequences of his act, or that he believes that…

Q: A commitment is a legal obligation that does not meet the technical requirements for recognition as…

A: Liability means the amount to be paid to an outsider by the business which is shown on liability…

Q: A lawsuit is an example of a contingent liability for the defendant. O True O False

A: Contingent Liabilities are the liabilities the outcome of which is unknown.

Q: When a contingent liability exists, the likelihood for loss can be evaluated as probable, reasonably…

A: A contingent liability is the possible obligation which will only be confirmed by future event which…

Q: unethical practices and fraudulent activities

A: The unethical practices mean the actions against the moral or ethical perspectives governing the…

Q: Liability arises from all of the following situation except A negligent act Breach of duty…

A: Liabilities means the dues or obligations of the business organisation, which needs to be settled or…

Q: In defamation law,

A: Defamation, a term in law, refers to the act of communicating something false to a third party about…

Q: Why are auditors not liable for defamation in connection with his/her audit?

A: Defamation: In auditing, defamation shall mean expressing an inappropriate opinion on financial…

Q: Explain when exculpatory agreements, agreements involving the commitment of a tort, and agreements…

A:

Q: Which of the following best describes preponderance of the evidence? O a. A Constitutional right O…

A: The preponderance of the evidence is the lowest standard of proof. The preponderance of the evidence…

Q: Per AICPA, Financial interests of a CPA's nondependent children are attributed directly to the CPA.…

A: CPA is the professional who helps various individuals and entities to achieve their financial…

Electronic Health Records, HIPAA, and HITECH

Electronic health records mean maintaining patients’ medical records in an electronic version. Electronic health records are patient-centric records that provide patient information immediately and enable the authorized person to access them. Electronic health records contain the details of patients, treatment details, medical records, radiology reports, and laboratory reports.